Hello!
Greetings to you all.
I have been working in a private company for the last 11 years, and my gross earnings are Rs. 35,000 per month. The structure of my salary is Rs. 14,500 by cheque and the remaining Rs. 20,500 in cash. Form 16 is issued to me for the cheque amount.
Now, I want to avail a home loan, and my Income Tax Return (ITR) is filed based on Form-16, which reflects a salary of Rs. 14,500. This amount is not sufficient to apply for a home loan. I have requested my boss multiple times to revise my salary cheque amount to Rs. 30,000. However, eight months have passed, and my cheque amount has not been updated. Despite my repeated requests, all I have received is assurance, and I am uncertain how to address this situation. I am aware that it is my decision how I prefer to receive my salary, not the company's choice.
I would appreciate it if an expert could provide advice on this matter.
Warm Regards,
Vinod
Vinod230565@gmail.com
From India, Delhi
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Greetings to you all.
I have been working in a private company for the last 11 years, and my gross earnings are Rs. 35,000 per month. The structure of my salary is Rs. 14,500 by cheque and the remaining Rs. 20,500 in cash. Form 16 is issued to me for the cheque amount.
Now, I want to avail a home loan, and my Income Tax Return (ITR) is filed based on Form-16, which reflects a salary of Rs. 14,500. This amount is not sufficient to apply for a home loan. I have requested my boss multiple times to revise my salary cheque amount to Rs. 30,000. However, eight months have passed, and my cheque amount has not been updated. Despite my repeated requests, all I have received is assurance, and I am uncertain how to address this situation. I am aware that it is my decision how I prefer to receive my salary, not the company's choice.
I would appreciate it if an expert could provide advice on this matter.
Warm Regards,
Vinod
Vinod230565@gmail.com
From India, Delhi
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No ouside advise is required. The matter is to be resoved bet’n you & your boss. Regards R.Ponraj
From India, Lucknow
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616From India, Lucknow
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I am sure it has something to do with your company's tricky or fishy accounting procedures. They are certainly maintaining two balance sheets - one for the government and one for themselves. So, I don't see them issuing you the correct F-16. Hope you understand.
If you have any salary revision letter with you, you can quote that for a correct F-16; otherwise, there is no point in asking.
From India, Kochi
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If you have any salary revision letter with you, you can quote that for a correct F-16; otherwise, there is no point in asking.
From India, Kochi
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Dear,
From the post, I understand that both you and your employee are in the wrong as per the laws of our land. Receiving a monthly 20K in cash is quite irregular, and you should refrain from doing so. For all practical purposes, in the eyes of the law, your salary is what you have been receiving through a cheque. By paying large sums in cash to employees, your company is involved in generating black money. I suggest resolving this matter with your employer, and refrain from discussing it in forums like this. You may need to provide strict proof if you claim to receive such a large amount in cash, as you cannot prove it.
Subhaga2.
From India, Hyderabad
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From the post, I understand that both you and your employee are in the wrong as per the laws of our land. Receiving a monthly 20K in cash is quite irregular, and you should refrain from doing so. For all practical purposes, in the eyes of the law, your salary is what you have been receiving through a cheque. By paying large sums in cash to employees, your company is involved in generating black money. I suggest resolving this matter with your employer, and refrain from discussing it in forums like this. You may need to provide strict proof if you claim to receive such a large amount in cash, as you cannot prove it.
Subhaga2.
From India, Hyderabad
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